Sterling holds gains as mortgage approvals rose in UK

Source: Bloomberg
© ScanPix/AFP
The pound jumped against the US Dollar after the BoE report showed that the number of mortgage approvals increased more than were anticipated in June. The Cable climbed to $1.5640 by 10:30 AM GMT, rebounding from 0.2% drop earlier. Meanwhile, the BoE's report, following yesterday's data on 0.7% growth in Britain's economy in second quarter, added to speculations on possible interest rate hike in the UK.
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